Taiwan, US Reach 'General Consensus' on Trade Deal After Months of Talks

• Taiwan and the United States have reached a "general consensus" on a trade deal after months of negotiations.
• Negotiations began in April following US President Donald Trump's tariffs on Taiwanese exports, later reduced to 20%.
• Taiwanese President Lai Ching-te aims to boost US investment and increase defense spending to reduce tariffs and protect semiconductor exports.
• The deal seeks reciprocal tariff reductions and preferential treatment for semiconductors under US Trade Expansion Act's Section 232.
• Taiwan's trade surplus with the US was $73.9 billion in 2024, with over half being information and communications technology products.

Why It Matters: Taiwan and the US have agreed in principle on a trade deal, focusing on tariff reductions and semiconductor trade.